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This week, among other things, the US National Debt reached the $15 trillion mark, which, if not dealt with effectively, signals gold and silver investment will be pay off well in the time to come.

Post by Janet Jones
on November 21, 2011

Super Committee’s Roadblock Supports Gold and Silver Investment

November 21, 2011 – This week, among other things, the US National Debt reached the $15 trillion mark, which, if not dealt with effectively, signals gold and silver investment will be pay off well in the time to come. Yes, $15 trillion USD. That’s $48,000 for every man, woman, and child in the United States. This year, the US will spend $1.3 trillion more than it takes in.

The United States Congress Joint Select Committee on Deficit Reduction, known as the Super Committee, was created just this summer and tasked with dealing with this debt effectively. The Committee consists of twelve Congressmen and, in theory, can function quicker and better because of their increased power and smaller numbers.

However, as with so many things in Washington, the Super Committee seems to be taking longer than expected and is not saving as much money as promised. The deadline for the Super Committee to come up with a deficit deal is Wednesday, but there is also a preliminary deadline Monday at midnight. The Democratic and Republican co-chairs of the Super Committee are now looking to draft a joint statement declaring their failure to reduce the budget deficit in the manner and time they had promised.

This is, however, good news for gold and silver investments. It can be reasonably projected that American buyers will continue to move their money to tangibles, the most popular of those being gold. Uncertainty over the budget and gridlock in Washington signals that the government will not be doing anything soon, if ever, to combat the spending problem in Washington and thus metals won’t back off their bullish track.

This comes even as safe haven demand has seemingly fallen both in Asia and western markets. The majority of the gold buying is not yet being done by new investors but is being done by existing clientele who are thickening their portfolios. The ratio of precious metals owners is comparatively tiny with about 3 per cent of the American populace actually owning physical precious metal.

This is good news for owners and for prospective owners. It shows that no matter what happens in Washington gold will still hold its value as it has since the days of Rome. And it shows that if you’re considering gold and silver investment, it’s not yet too late to get in.